In the current housing market, more people are finding themselves in what is known as the “sandwich generation,” or a generation of people that are caring for both children and parents under the same roof. While this could have its downsides, some people in the sandwich generation are reporting an improved financial situation, ultimately allowing them to buy a home sooner. According to a report from housing data platform Realtor.com, 33% of people in the sandwich generation say they're having an easier time buying a home because of their living circumstances. However, this seems to be highly dependent on each household’s specific arrangement as another 30% say they have been prevented from paying down their mortgages.
Generationally, Millennials are especially impacted by being part of the Sandwich Generation, and the impact seems to concentrate on the two ends of the spectrum, Almost half (46%) of millennials in the Sandwich Generation reported that their double-support role is preventing them from buying a home, while 43% said it is in fact helping them afford a home.
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